Automotive parts injection molder ELS Plastics Corp. has gone bankrupt and its equipment will be sold.
The Windsor firm tried to restructure after getting protection from creditors May 12, but it did not succeed, said Richard Jackson, a trustee in bankruptcy with Jackson Carson Inc. of London, Ontario. ELS voluntarily filed for bankruptcy June 13, Jackson said in a telephone interview.
ELS had total liabilities of about C$7.6 million (US$6.8 million) and assets of C$4 million (US$3.6 million). After a meeting of creditors July 5, the trustee decided to put together a list of the firm's assets and approach potential buyers, said a spokeswoman for Jackson Carson. Secured creditors are owed about C$5 million (US$4.5 million).
The ELS plant shut down June 12. It first opened in 1990.